How many Capital One cards can you have?

Having more than one Capital One credit card can boost your buying power and benefits. For example, pairing a travel rewards credit card with a dining and entertainment card could help you earn both miles and cash back rewards. 

Whatever the reason for applying for more than one Capital One card, here are a few things to consider.

What you’ll learn:

• You can apply for more than one Capital One credit card and have multiple accounts open. 

• Whether you’re approved for multiple Capital One credit cards depends on your financial situation and Capital One’s credit policies.

• Having more than one Capital One card could help you maximize your rewards, increase your available credit and lower your credit utilization ratio.

• No matter how many Capital One cards you have, the key is to use them responsibly. That includes doing things like paying on time and keeping your balances low.

Yes, it’s possible to have more than one Capital One credit card.

You can choose how many cards to apply for. But as with other issuers, Capital One policies determine whether to approve or deny those applications.

• Matching your spending habits to the right card. Capital One has credit cards for a variety of lifestyles and spending habits. For example, Capital One offers cards designed for travel, cards that offer rewards for everyday purchases and more.

• Increasing your rewards. Carrying multiple Capital One cards designed for different types of purchases could give you a chance to maximize your rewards. Then you can redeem your rewards in flexible ways like receiving cash or a statement credit, buying gift cards, booking trips through Capital One Travel and more.

• Importance of responsible card use: Responsible use, like making on-time payments, can help in a number of ways, including keeping your credit in good standing.

• Application impact: Applying for a credit card could result in a hard credit inquiry that may have a temporary negative impact on your credit scores. 

• Ease of account management: You may find it easier to manage your Capital One credit card accounts in a single place online or through the Capital One Mobile app.

There’s no rule about how many credit cards you should have. But if you use your cards responsibly, there could be benefits to having more than one. They can include maximized rewards, more available credit, better credit scores and more flexibility in making purchases.

• Maximized rewards: You could increase your rewards by using credit cards that fit your lifestyle. If you enjoy travel, you might consider the Capital One Venture card or Venture X card to maximize travel rewards. Or if you’re interested in earning extra cash back at grocery stores and on dining, entertainment and popular streaming services, consider checking out the Capital One Savor card.

• More available credit: Having more than one card can mean having more available credit. If you’re spending at the same levels, that can help lower your credit utilization ratio, which is the percentage of your total available credit compared to how much credit you’re using. According to the Consumer Financial Protection Bureau (CFPB), “Keeping a low credit utilization ratio—under 30 percent—shows lenders you’re responsible and have available credit.”

• More spending flexibility: Having multiple cards could give you more flexibility when making purchases. For example, you could use a cash back card for everyday expenses and a card with a lower interest rate for big purchases like computers or home appliances. Plus, having more than one card could mean having a backup if your primary card is lost or stolen.

• It’s important to use your cards responsibly. Having more than one card means extra responsibility to budget and manage payments. Falling behind could negatively affect your credit. But if you’re paying your statements on time and not overspending, having multiple cards could influence key credit-scoring factors. 

• Applying for a new card can trigger a hard credit inquiry. And a hard inquiry could negatively impact your credit scores on a temporary basis. For that reason, you may want to wait between credit card applications. Experian®, one of the three major credit bureaus, recommends waiting six months.

Having multiple Capital One credit cards can come with a number of benefits. They include maximizing rewards, increasing your available credit and lowering your credit utilization ratio. 

Keep in mind that using your cards responsibly could help avoid negative impacts on your credit scores.

There are a few things to keep in mind before applying for an additional Capital One card.

Having multiple credit cards can have either a positive or negative impact on your credit. That’s because it affects different factors used to calculate credit scores including:

• Credit utilization ratio: Adding a new line of credit can decrease your credit utilization ratio if you maintain the same spending habits. The CFPB recommends keeping your ratio under 30%.

• Credit age: The CFPB says that having a longer credit history can help your scores. Opening a new credit card may bring down the average age of your credit accounts. 

• Applications for new credit: Applying for new credit can trigger a hard inquiry. A single hard inquiry generally won’t have a big impact on your credit, according to FICO®. But applying for multiple credit cards in a short time could signal to lenders that you’re a credit risk.

Having multiple credit cards can offer several advantages when you use them responsibly. Here are some ways to manage your cards to maintain a positive impact on your scores:

• Pay on time. Your payment history plays a major role when companies like FICO calculate your credit scores. So no matter how many credit cards you have, it’s important to pay on time, every time. 

• Consider payment amounts. You don’t have to pay more than the minimum payment to keep your account in good standing. But paying more than the minimum could mean paying less interest over time. Plus, it can help keep your balances and credit utilization ratio low. 

• Examine older accounts. It may be tempting to close an old credit card you don’t use as much, but that might lower the average age of your credit accounts. Consider alternatives like using the card lock feature or continuing to use the card for recurring small purchases.

• Monitor your credit reports. Checking your credit reports can help you identify errors or fraud that can potentially hurt your credit scores. You can get free copies of your credit reports at AnnualCreditReport.com. Or you can use CreditWise from Capital One. It gives you access to your credit score and is free to use, even if you’re not a Capital One cardholder.

If you’re considering applying for another Capital One card and still have questions, these answers may help you decide.

There’s no definitive answer to the question of how many Capital One credit cards you can have. It’s probably more helpful to think in terms of how many you should have. And that depends on how many you can make work for you responsibly.

If you’re new to credit or searching for your next credit card, Capital One can help: 

• See whether you’re pre-approved for credit cards without harming your credit scores. 

• If you’re looking to build your credit with responsible use, explore cards for people with fair credit. 

• Earn unlimited 1.5% cash back on every purchase, every day, with the Quicksilver card. 

• Monitor your credit report and score with CreditWise. It’s free for everyone, and using it won’t hurt your credit.